In terms of new REIT's, S25BB of the Income Tax Act applies.

In terms of this extract from that seciton:
"Furthermore, any amount received or accrued during a year of assessment by a REIT or a controlled property company in respect of a financial instrument (other than a share in a REIT, a controlled property company or an associated property company) is deemed to not be of a capital nature and must be included in the income of the REIT or that controlled property company."

Does this mean if a REIT sells any share that it has as an investment, that it must include the proceeds 100% in income, and be taxed as if the proceeds on the disposal are normal income?